2231 48 Street SE
Forest Lawn Calgary T2B 1M3

$685,000
Multi-Family baths: 0.0 1,917 sq. ft. built: 1971

Main Photo: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 1: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 2: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 3: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 4: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 5: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 6: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 7: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 8: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 9: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 10: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 11: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 12: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 13: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 14: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 15: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 16: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 17: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Photo 18: 2231 48 Street SE in Calgary: Forest Lawn 4 plex for sale : MLS®# A1124250
Status:
Active
Prop. Type:
Multi-Family
MLS® Num:
A1124250
Year Built:
1971
MASSIVE, stable, LONG TERM INCOME generated on this fantastic LEGAL FOUR-PLEX. Property is generating an extraordinary $5,000 per month with long-term tenants (10 years+) who want to stay. This is unquestionably the best mulit-family buy available in this location and this price. This outstanding LEGAL four-plex features 4 units that all have their own entrance, ALL have 3 bedrooms and 1 full bath and ALL have their own in-suite laundries. The 2 upper level units each have large private balconies. Property is situated in a fantastic location close to shopping, transit and all amenities and sits on a massive 7700 sq ft corner lot zoned MC-1 with 5 SEPARATE PARKING STALLS in the back and ample street parking on the east and south sides of the property. Extremely well fenced perimeter with privacy gates for tenants, tar and gravel roof completely redone in 2002, new balconies with new sliding doors installed in 2009, all new lower level windows installed in 2009, new fence in 2009 as well all round out this superb investment opportunity. Photos are of unit 2231 (b), which was renovated in March of 2021. Unit 2231(a) was renovated 5 years earlier. Units 2229 ( a ) and ( b) need renovations but currently have long term tenants that are comfortable and do not prefer to move. If you are an investor this is a fantastic revenue generating property with long-term reliable tenants generating a high cap rate. WANT TO LIVE FOR FREE? This is a distinct possibility. If you are looking for your own home choose to live in 1 suite and revenue from the other suites should easily cover mortgage payments AND put money in your pocket at the end of the month depending on your interest rate and the amount of your down payment, PLUS have 2 parking stalls for yourself. Some lenders only require 10% down and WILL CONSIDER ALLOWING A LARGE PERCENTAGE OF THE REVENUE TO BE ADDED TO YOUR INCOME TO HELP YOU QUALIFY FOR A LARGER MORTGAGE. Or, buy with a friend or family member, and occupy 2 suites and share in the opportunity together. A number of excellent potential financing options exist for the right buyer regardless. Whether you are a seasoned investor or are looking to live in and manage your own building don't miss the outstanding opportunity represented here with interest rates and market conditions as good as they are!
Property Type:
Multi-Family
Property Sub Type:
4 plex
Transaction Type:
For Sale
Possession:
15 Days / Neg
Home Style:
Bungalow
Total Living Area:
1,917 sq. ft.
Taxes:
$4,614 / 2021
Tax Assessed Value:
623000.0
Lot Area:
7,685 sq. ft.
Lot Frontage:
64'11½"
Year built:
1971 (Age: 50)
Bedrooms Below Grade:
0
Bathrooms:
0.0 (Full:-, Half:-)
Plan:
5998JK
New Constr.:
No
Structure Type:
Four Plex
Ensuite:
No
Garage:
0
Parking Places:
5.0
Parking Total/Covered:
5 / -
Laundry Features:
In Unit
Forest Lawn
See Remarks
4 Fridges, 4 Stoves, 4 Washers, 4 Dryers all "As -is"
Title to Land:
Fee Simple
Community Features:
Playground, Shopping Nearby
Patio And Porch Features:
Balcony(s)
Lot Features:
Back Lane, Corner Lot, Near Shopping Center, Landscaped, Near Public Transit, Private
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone E
Zoning:
M-C1
Listed Date:
Jun 26, 2021
Days on Mkt:
28
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Data was last updated July 24, 2021 at 08:05 PM (UTC)
Area Statistics
Listings on market:
29
Avg list price:
$799,900
Min list price:
$480,000
Max list price:
$1,899,900
Avg days on market:
88
Min days on market:
1
Max days on market:
653
Avg price per sq.ft.:
$387.9
These statistics are generated based on the current listing's property type and located in Calgary. Average values are derived using median calculations.
Troy Weber
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.